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According to the IFC, the Project consists of an unfunded Risk Sharing Facility of up to 3 years and an up to US$15 million IFC investment in local currency equivalent, providing a 50% coverage of a portfolio of up to US$30 million mostly including short term working capital loans to micro enterprises with tenors ranging from 30 days to up to 180 days to be originated by Orange Bank Africa leveraging on its existing ‘Tik Tak’ digital credit and savings application. The RSF will support the scaling of OBA’s lending to Micro, Small and Medium Enterprises including but not limited to agents and merchants in Côte d’Ivoire and Senegal, 2 countries of the West African Economic and Monetary Union region.
The IFC categorized the project as FI-3.
As stated by the IFC, Orange Bank Africa is owned by the Orange Group (85% ownership) based in France, the 8th largest global telecoms brand worldwide with over 250 million customers and a presence in 26 countries across five continents – mainly in Europe, Africa, and the Middle East. OBA also has minority ownership by NSIA Group (15%), an established financial services group with 26 years of history and uniquely positioned on two major segments: insurance and baking, and with a presence in 12 countries in West and Central Africa
Private Actor 1 | Private Actor 1 Role | Private Actor 1 Sector | Relation | Private Actor 2 | Private Actor 2 Role | Private Actor 2 Sector |
---|---|---|---|---|---|---|
- | - | - | - | NSIA Group | Investor | Finance |
- | - | - | - | Orange S.A. | Parent Company | Communications |
General IFC Inquiries - IFC Communications:
Address: 2121 Pennsylvania Avenue, NW, Washington DC 20433
Telephone: +1 202-473-3800
Fax: +1 202-974-4384
Financial Intermediary - Orange Bank Africa SA:
Mr Jean-Louis Menann-Kouame - Chief Executive Officer
Phone: (+225)2721599300
Email: Jean-louis.menann-kouame@orangebank.ci
Address: Immeuble Baini, rue Louis Lumiere, Zone 4, Marcory, Abidjan 04 BP 2760 Abidjan 04 – Côte d’Ivoire
Website: https://orangebank.ci/
ACCESS TO INFORMATION
You can submit a request for information disclosure at: https://disclosures.ifc.org/#/inquiries
If you believe that your request for information from IFC has been unreasonably denied, or that this Policy has been interpreted incorrectly, you can submit a complaint at the link above to IFC's Access to Information Policy Advisor, who reports directly to IFC's Executive Vice President.
ACCOUNTABILITY MECHANISM OF IFC/MIGA
The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org